Established in 2011, Summit Capital Partners, L.P. is a direct, non-bank, commercial real estate lender specializing in construction and bridge financing. Summit was created to provide timely and innovative solutions for commercial real estate transactions that do not fall within the boundaries of today’s conventional financing. The founding members of Summit share 150 years of experience developing, acquiring, and investing in residential and commercial real estate throughout the Philadelphia and New York metro area. This experience provides borrowers with the insight and flexibility not offered by traditional lending institutions. Simply put, Summit can navigate where traditional lenders cannot.
Mr. Mandelbaum is the founding member and president of New Jersey and New York based law firm, Mandelbaum Salsburg, and has more than four decades of legal experience. For more information on Mr. Mandelbaum and Mandelbaum Salsburg, please visit:
As Chairman of Woodmont Properties, Mr. Witmondt has been active in the New Jersey real estate industry for over 50 years. Throughout his career, Mr. Witmondt has purchased and developed high quality residential and commercial properties and, in the process, has attained an outstanding reputation among his peers and the financial community. For more information on Mr. Witmondt and Woodmont Properties, please visit:
A successful entrepreneur, Mr. Wolfson has been investing in real estate for over 35 years, including with Summit's predecessor - Apple Chase Partners.
Mr. D’Anton has been active in real estate development for over 30 years. Since beginning his real estate career as a single-family homebuilder, Mr. D’Anton has acquired and developed high-end conventional and affordable multifamily, office and industrial properties both for his own account and on behalf of municipalities, corporate and government entities. For more information on Mr. D’Anton and AST Development, please visit:
Whether a 20-lot subdivision, single family spec home, or warehouse facility, Summit provides today’s builders and investors with the capital and flexibility needed to pursue their project.
Through a staged transaction, Summit was able to assist in the redevelopment of a 4-lot subdivision in Verona, NJ. The 1.3 acre parcel required significant clean up to address historical activities on the property. Ultimately, Summit leveraged the value of the land use approvals and perfected subdivision to provide the Borrower with the financing necessary to create a marketable property. Prior to closing on the remediation loan, Summit established an exit strategy by identifying a local single-family home builder. Upon completion of the remedial activities, Summit provided the builder with $800,000 in acquisition financing and a construction revolver of $350,000 per house.
Summit Capital provides short-term funding to allow operators and owners to enhance values, complete construction, upgrade quality and otherwise become eligible for conventional financing.
Secured through a first position leasehold mortgage, Summit provided $1.8 million in bridge financing to help advance a multi-phase mixed use community in Lewes, DE featuring 900 residential units and several thousand square feet of service retail. Upon successfully completing phase one, the developer required additional financing to further the project and carry the property until conventional debt was secured.
Summit’s environmental remediation platform offers borrowers the opportunity to realize the full value of their property. Avoided by most conventional and private lenders, Summit works closely with the borrower and its consultants to efficiently navigate the specifics of each remediation plan.
Summit provided $2,750,000 in acquisition, construction and remediation financing for a 76,000 sq. ft. vacant warehouse facility plagued by contamination and years of neglect. In collaboration with the Borrower and its consultants, Summit was able to quickly navigate the complicated elements of the deal and proceed to closing. The Borrower successfully completed the improvements and remediation in less than one year and sold the property for a significant gain.
Underwriting and loan documentation is pursued on a fast track basis. Closing can occur in as little as 10 days for new borrowers and 5 days for existing.
Ability to make loans without having to rely on outside sources for funding.
Committed to protecting brokers 100% of the time.
The draw process is efficiently managed by our in-house loan administrator and inspector.
$500,000 - $15,000,000
With nearly $300 million originated since 2012, listed below are several representative transactions.
"Summit Capital is an indispensable resource for my organization...efficient, knowledgeable and reliable. Summit understands the nuances of today's real estate environment. In addition, their experience and creativity add value and perspective to my deals."
"For over twenty years now I've been doing business with the principals at Summit Capital. Their understanding of the construction and home building business is an invaluable tool when it comes to the most important part of our industry, funding. That understanding sets them apart from any other lender and the speed in which they can get deals done makes Summit Capital the only choice for me."
"We have worked with the Summit team on numerous complex transactions. Summit’s ability to see the big picture, understand the nuances and find structures that work for all parties is unmatched. Absolutely first class."
"My banking experience with Summit Capital has been a positive transition from several of the larger banks that I've used over the years. Summit treats me as a respected client and is truly concerned about my long and short term goals. From the beginning, I felt they understood not every deal is the same. The entire staff makes sure each deal is specifically tailored. This is a banking relationship that exactly fits my goals and needs."